Analyzing Outbound Campaigns - March 2024

Chiirp Revenue Performance

👋 Hey, Jon here! This week, we are diving into revenue generated from Chiirp outbound campaigns across 95 businesses for March. These businesses span HVAC, plumbing, roofing, and garage doors - while it isn’t broken down by service type, we will begin to do that in the future.

As a refresher, below is February’s outbound campaign performance summary:

• Response Rate: 5.3%

• Total Revenue Opportunity: $314,533 per location

• Closed Revenue: $182,000 per location

• Closed Revenue Generated (70-location sample): $13.69 million

• ROI: 182x

So far in Q1, Chiirp outbound campaigns have shown impressive performance in terms of revenue generation, while we’ve seen a period of light demand for many contractors.

Read on below to see if the outbound campaigns’ strong performance continued in March!

Chiirp Outbound Campaigns Had a 6.78% Response Rate in March

From February to March, the audience of outbound campaigns went from 300,000 to 240,000, with a slight increase in response rate, going from 5.3% to 6.78%.

Despite the smaller audience size, just as many customers (over 16,000) responded to messages as they did in February.

Note: A bigger audience for outbound campaigns doesn’t always equate to better performance! It’s probably wise to find your minimum viable audience (the smallest possible audience without diminishing returns) to ensure the relevance of these campaigns.

In total, 8,825 net new jobs were booked in March, which is up 6% month-over-month:

3.6% of customers who received a message ended up booking a net new job (up from 2.7% in February) and spent an average of $3,329.46 (up from $3,122.89 in February).

For every 1,000 impressions from Chiirp outbound campaigns, $119,860 in revenue was earned, an 11% increase from February:

Chiirp Outbound Campaigns Generated $268,762 in Revenue Opportunity per Location in March

In March, Chiirp generated $268,762 in total revenue opportunity per brand (estimates + sold jobs + closed jobs). While this is down from February ($314,533) and January ($293,333), more revenue potential was generated overall than in both of those months.

In total, Chiirp outbound campaigns generated $25.5 million in revenue opportunity in March (up from $23.59 million in February).

68% of that revenue opportunity turned converted to sold or closed revenue (up from 64% the prior month).

For reference, we usually set a target of a 50% conversion rate to sold/closed revenue for digital marketing channels like PPC, GLSA, and Organic, so the net opportunities from Chiirp campaigns were more efficient than those channels.

Chiirp Outbound Campaigns Generated $169,366 in Closed Revenue per Location in March

Chiirp outbound campaigns generated slightly over $16 million of closed revenue across the 95 businesses in this sample.

That’s up from February ($13.69 million) and January ($13.8 million).

Note that while this month’s sample does include 20 more businesses than last month, the total audience size was less than what it was in February, so the per-customer revenue generation was higher.

The $16 million in closed revenue per location works out to $169,366 per business in March.

It bears repeating that outbound campaigns are a really important aspect of your toolkit, especially when dealing with softening demand from your traditional non-digital and digital marketing channels.

Until next time . . .

-Jon